Posts Tagged ‘bank’

Allied Irish Banks settles over ‘problematic’ Oracle software system

November 28th, 2011

Allied Irish Banks (AIB) has reached a settlement with Oracle in a €84 million case over the implementation of a software system that the bank claimed was “beset with serious technical problems”.
Details of the settlement were not disclosed.

In its court action against Oracle, AIB had alleged it had “wasted” money on the implementation of Oracle’s Flexcube retail banking software system in 2007.

It claimed that the system was so problematic that it has since returned to using its existing retail banking system.

Just 3,000 customers, out of an expected five million, had been moved onto the new platform between 2007 and March 2010, which was when AIB decided to stop working on the implementation.

AIB also rejected Oracle’s offer of an alternative product, describing it as “wholly unsuitable”.

The bank said Oracle had notified it of plans to discontinue development of the Flexcube software on IBM’s z/DB2 platform for all western banks, apart from AIB, in March 2010.

AIB said it could not accept the plan because Oracle had promised to share the costs of upgrades with other banks, which would no longer be possible.

Oracle declined to comment on the settlement.

Source:http://www.techcentral.ie/article.aspx?id=17863

Man used software glitch to beat the bank

January 5th, 2011

A bloke who discovered a software glitch in a one armed bandit machine and used it to clean up in a a western Pennsylvania casino has been arrested by the untouchables. Andre Nestor, 39, was arrested this week after he arrived at the Washington County Courthouse for jury selection.

He was charged with 650 counts of theft, criminal conspiracy, computer trespassing and other charges involving the Meadows Racetrack and Casino. The FBI claims that Nestor and two others caused a high-bet slot machine at the casino to generate false jackpots in 2009 all up Nestor is believed to have taken home about $1 million at casinos.

However Nester claims that he is being arrested for for winning on a slot machine,”. He said that the surveillance tapes will show that he pressed buttons on the machine on the casino and won. The FBI will probably claim that he discovered that certain button combinations caused the machine to react in a particular way. It will be interesting to see how the coppers prove that is illegal as he did not actually break into the machines software.

The two men accused in the Washington County case with Nestor have pleaded guilty. Kerry Laverde, 51, pleaded guilty to three counts of receiving stolen property. Patrick Loushil, 42, had previously pleaded guilty in the case and had been expected to testify against Nestor at his Pennsylvania trial.

Source:http://www.fudzilla.com/home/item/21419-man-used-software-glitch-to-beat-the-bank

Harland Financial wins more software work with Pennsylvania bank

December 30th, 2010

PeoplesBank has selected Harland Financial Solutions Inc.’s Encore branch automation solution to boost sales and service at the lender.
York, Pa.-based PeoplesBank is an existing customer of other Harland Financial Solutions products. The bank has now licensed Encore Sales & Service and Encore Teller, as well as Touché Messenger and other modules related to Encore.

PeoplesBank plans to leverage the integration between the current and new solutions to bridge the gap between software used in its back office operations and the tools used by the staff that interacts directly with clients. The goal is to help staff better serve the bank’s clients and facilitate needs-based cross-selling.

Harland Financial Solutions is a wholly owned subsidiary of Decatur, Ga.-based Harland Clarke Holdings Corp., which also owns San Antonio-based Harland Clarke and Eagan, Minn.-based Scantron Corp. It supplies software and services to thousands of financial institutions of all sizes, offering its solutions in both an in-house and service bureau environment.

Source:http://www.bizjournals.com/sanantonio/news/2010/12/30/harland-financial-wins-more-software.html

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